Humboldt-Universität zu Berlin - Wirtschaftswissenschaftliche Fakultät

Prof. Richard Stehle, CV





  • Undergraduate and Master Studies at Universitaet Mannheim (Degree 1970)
  • Ph.D. at the Graduate School of Business, Stanford University (1977)
  • Habilitation at Mannheim (1982)


10/1992-03/2012 Professor and Chairman, Institute for Banking, Capital Markets, and Insurance, Humboldt-Universität zu Berlin

Professorships at the German universities of Siegen, Bielefeld and Augsburg. Visiting professorships at the Universität Konstanz (10/1981-08/1982), the  University of Chicago (9/1982-03/1984) and the Wharton School (08/1991-06/1992).

Major Academic Fellowships, Awards, Academic Research Grants
1987-2003 Several research grants, Deutsche Forschungsgemeinschaft
1984 Heisenberg-Award, Deutsche Forschungsgemeinschaft
09/1979-09/1981 Habilitation scholarship, Deutschen Forschungsgemeinschaft
09/1971-03/1975 Ford Foundation Fellowship for doctoral studies at Stanford University
Major Administrative and Service Positions:
Since 2012 Chairman of the working group on energy network regulation of the German Federal Ministry of Economics and Technology
2010-2013 Vice-President, European Institute for Advanced Studies in Management (EIASM), Bruxelles, Belgium; Member of the Managing Board since 2007
Since 2008 Member of the Board, Hypo-Vereinsbank-Stiftungsfonds
2002 and 2003 Vice-President and President, European Finance Association (EFA), Program and Local Chair of the EFA annual meeting in Berlin, 08/2002. Member of the EFA Executive Board 2001-2005


Chairman, Appointment Committee for Professorships in Business Administration, Humboldt-Universität zu Berlin (which until 1989 was part of the German Democratic Republic)


Dean, Universität Augsburg

Related Activities
  • Member of the Editorial Boards of several academic journals (1997-2005), referee for major academic journals since 1980, external peer reviewer for several national and private science founda-tions since 2000, consulting and expert opinion work for firms, the German network regulator BNetzA and German courts of law
  • Program Committee European Finance Association Annual Meeting (2000-2005, 2012, 2013), German Finance Association (all conferences since 2000), Swiss Finance Association (all conferences since 2004)
Short-term visits of other Universities (last two years only)
  • University of Melbourne Business School, Finance Department, April/May, 2013 and 2014; host: Bruce Grundy
Paper Presentations at Universities and Academic Conferences (last two years only)
  • University of Zurich, March 2, 2012: "In Germany, the CAPM is alive and well"
  • University of Trier, March 24, 2012: "In Germany, the CAPM is alive and well"
  • INSEAD, Fontainebleau, April 5, 2013: "The future of energy will be less country-specific, but still full of surprises"
  • University College, Melbourne, April 29, 2013: "The European Banking Crisis"
  • University of Melbourne, Finance Department, June 14, 2013: "The CAPM is alive and well"
  • University of Applied Sciences, Stralsund, Jahrestagung des Arbeitskreises Finanzierung der deutschen Fachhochschullehrer, May 30, 2013: "Das CAPM und seine Verwendung in der deutschen Praxis"
  • ESMT, Berlin, November 8, 2013: "Fama/French Factors for Germany: Which Set is Best?"
  • The University of Melbourne, Melbourne Business School, May 7, 2014: "Fama/French Factors for Germany: Which Set is Best?"
  • Scuola Normale Superiore, Pisa, June 6, 2014: "In Germany, the CAPM is alive and well"
  • EFMA, University of Rome Tor Vergata, June 25, 2014: "Fama/French Factors for Germany: Which Set is Best?"
Paper Presentations to Professional Audiences (last two years only)
  • Five Presentations on returns of German stocks in Conferences for independent financial advisors organized  by  Dimensional Fund Advisors in Eltville (10/2011), München (04/2012), Düsseldorf (10/2012) and Hamburg (10/2014)
  • German Association of Energy and Water Industries - BDEW, Annual Conference, March 19, 2013: "Regulatory Errors and Their Consequences"
Conference Participations (last two years only)
  • European Finance Association Annual Meeting, Copenhagen, 08/2012
  • European Finance Association Annual Meeting, Cambridge, 08/2013
  • European Finance Association Annual Meeting, Lugano, 08/2014